Should Obama give back the $50 billion he stole to bail out GM, the biggest business failure in history?

Question

That money was supposed to be for loans to the company, so if they failed to repay the loans the U.S. government could seize their assets and liquidate them as damages.

Instead, Obama stole the money and bought GM stock. The last shares of that stock were just recently sold on the market, netting us a $10 billion loss that can never be recovered.

That is the difference between loans and stocks. When you lose money on stocks, you have no recourse. If you lose money on a loan, you can seize collateral and liquidate it for damages.

Obama really hosed us all on that deal.

Answer 1

No. GM already paid back a lot of that money. Also, that money helped keep Americans employed.



"Job creators" should give back the money they stole from their employees. The country didn't agree to tax cuts and deregulation to NOT have prosperity trickle down. Unfortunately, conservatives seem to think that one of the privileges of being wealthy is never being held accountable for personal behavior.



Edit: How is what I said not true? I didn't say GM paid back all of it, just a lot of it. $40 billion is a lot of the original $50 billion. That's 80% of the original total. Oh wait, I forgot. Percentages work backwards for conservatives. 97% of climatologists agreeing on something doesn't mean it's true, but the American people supposedly support the Republican agenda despite their approval rating being around 20%.

Answer 2

You need to fix your numbers.

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The Treasury Department sold its final shares of the Detroit auto giant Monday, recovering $39 billion of the $49.5 billion it spent to save the dying automaker at the height of the financial crisis five years ago.



Without the bailout, the country would have lost more than 1 million jobs, and the economy could have slipped from recession into a depression, Treasury Secretary Jacob Lew said on a conference call with reporters.

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On the other hand, the Government Shut-Down cost us $24 Billion and we got NOTHING FOR THAT. Not sure how you managed to change 10 Billion to 50 Billion. Must be some magic you can preform?

Answer 3

Your rants are idiotic and boring while reflecting a complete ignorance of some basic economic facts. A company like GM pumps billions of dollars into the US economy. That $10 billion has been recovered several fold..

Answer 4

GM is in good shape.



“The biggest failure?” Please. How about Enron, GW’s buddies? They’re dead.



SAVING THE AUTO INDUSTRY AND THE MILLIONS OF ADJUNCT JOBS played a part in turning the economy around.



Nice try, though.



Donald Rumsfeld once admitted that they can’t account for TWO TRILLION DOLLARS in Defense spending.



Next?

Answer 5

Obama doesn't steal. And since you know so much about stealing, Tell your people to ask their people will they return the money they took from us on false wars causing a down turn in our economy and the lives of our middle class that's slowing making a comeback.

Answer 6

Shows he didn't know what he was doing back then. As much as he shows,

He has no clue what he is doing now.

Answer 7

He should but he will not, probably pocket even more for his Mansion in Kenya.

Answer 8

None of this nonsense is true.

Answer 9

And you have a say in this why, Canadian? O_o Hmmmmm?